Marcopolis presents the Kuwait Report focused on the investments, doing business, economy and other topics featuring interviews with Kuwaiti leaders. The sectors under review in this issue are industry, oil and gas sector, investments, banking sector, telecom sector and many more.
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Faisal M. Sarkhou is CEO of KAMCO.
Faisal M. Sarkhou, CEO of KAMCO talks about oil prices and investing. He believes that the second half of 2015 will bring return of growth and stabilization of markets.
He says, "First of all oil prices should stabilise; with that you will get people going from negative sentiment to positive sentiment. You will have earnings announced for companies that will reflect growth. In Kuwait, the companies have had until the third quarter of 2014 around 2.8% growth. We expect that 2015 will bring growth and earnings in the double digit range in the region. That will show quarter on quarter and will give more confidence to investors.
This is with stability prerequisites of course and assuming that the government expenditure plans in the region and Kuwait move ahead and that the geopolitical situation stabilises. This will cause investor confidence to move from negative to positive, companies will increase performance and there will be double digit growth in nascent markets across the board. Some sectors that will benefit because of expected infrastructure spending will be the banking and financial sector, the insurance sector, the defence sector, health care and education."